Finance
Anglo American reports 10% drop in 2025 copper output, cuts 2026 guidance
Published by Global Banking & Finance Review®
Posted on February 5, 2026
2 min readLast updated: February 5, 2026
Quick Summary
Anglo American reports a 10% drop in 2025 copper output and lowers 2026 guidance. The company plans a merger with Teck Resources and is restructuring its De Beers business.
Anglo American reports 10% drop in 2025 copper output, cuts 2026 guidance
Anglo American's Copper Production Decline
LONDON, Feb 5 (Reuters) - Global miner Anglo American on Thursday posted a 10% drop in copper production last year to 695,000 metric tons, the lower end of its guidance, and cut its 2026 forecast for the transition metal.
Production Forecast Adjustments
The London-listed miner now expects 2026 copper production of between 700,000 and 760,000 tons, from a previous forecast of 760,000-820,000 tons, partly due to lower production from its co-owned Collahuasi mine in Chile.
Financial Implications and Future Plans
Anglo said it expects to record around $200 million in charges for the second half of 2025 related to rehabilitation provisions at its Chile copper operations.
Merger with Teck Resources
The London-listed miner in September announced a plan for a $53 billion all-stock, nil-premium merger with Canada's Teck Resources that would create the world's fifth-largest copper producer. The metal is used for electric vehicles and renewable infrastructure.
De Beers Business Review
Both companies have undergone significant restructuring in recent years, driven in part by previous takeover attempts.
Anglo is refocusing on copper and iron ore, while seeking to spin off or sell its struggling De Beers diamond business, as well as its metallurgical coal and nickel assets. None of these divestments have yet been completed.
"We are committed to seeing our portfolio transformation through to its conclusion," CEO Duncan Wanblad said in a statement on Thursday, adding that the company was progressing each sale or separation process.
Anglo said is reviewing the value of the De Beers diamonds business after its 2025 rough diamond production dropped 12% to 21.7 million carats. It cut its production forecast for 2026 to a range of 21 million to 26 million carats, from 26 million to 29 million previously, as demand remains low and inventories high.
The company also said De Beers was likely to post a loss in 2025.
Anglo will post its 2025 financial results on February 20.
(Reporting by Clara DeninaEditing by Bernadette Baum)
Key Takeaways
- •Anglo American reports a 10% drop in 2025 copper output.
- •2026 copper production guidance reduced to 700,000-760,000 tons.
- •Merger planned with Teck Resources to form a major copper producer.
- •De Beers diamond business faces restructuring and potential losses.
- •Anglo American to post 2025 financial results on February 20.
Frequently Asked Questions about Anglo American reports 10% drop in 2025 copper output, cuts 2026 guidance
1What is copper production?
Copper production refers to the process of extracting copper from its ores and refining it into a usable form. It is a critical component in various industries, including electronics and construction.
2What is a merger?
A merger is a strategic decision where two companies combine to form a single entity, often to enhance competitiveness, achieve synergies, or expand market reach.
3What is a rehabilitation provision?
A rehabilitation provision is a financial reserve set aside by a company to cover future costs associated with restoring or rehabilitating a site after mining or production activities.
